⬅ # 395 John Brown|# 397 Zhou Qunfei

# 396 Ruan Xueping 

$7.24B

Real Time Net Worth
as of 5/29/2024
$31.3M (0.43%)

# 396 Ruan Xueping 

$7.24B

Real Time Net Worth
as of 5/29/2024
$31.3M (0.43%)
OccupationCofounder and Vice Chair, Gongniu Group
Source of WealthPower Strip
Age52
ResidenceNingbo, China
Age-Adjusted Net Worth$12.4B
Ruan Xueping
Ruan Xueping
Hong Kong
Net worth: $7.24B

Self-Made Score 

Wealth History

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Biography

Early Life

Ruan Xueping co-founded Gongniu Group with elder brother Ruan Liping in 1995
Both brothers hold citizenship of Hong Kong

Career and Business Ventures

Vice Chairman of Gongniu Group, a Shanghai-listed power strip supplier
Vice Chairman of Goneo Group, a maker of electrical sockets and switches in China
Goneo Group reported revenue of 14.1 billion yuan ($2.1 billion) in 2022
Goneo Group has more than 1.1 million sales outlets across China
Gongniu Group began trading publicly on the Shanghai stock exchange in February 2020
Gongniu Group was co-founded by Ruan Xueping and Ruan Liping in 1995

Notable Events and Controversies

In 2019, Gongniu Group was sued for alleged patent rights infringement by Jiangsu Tongling Technology
In May 2021, Gongniu Group was subject to an anti-monopoly investigation and fined 295 million yuan
In July 2021, Gongniu Group's flagship stores faced accusations of false propaganda
In December 2021, a power strip produced by Gongniu Group spontaneously combusted
In January 2022, a socket made by Gongniu Group exploded after about a month of usage

How long would it take you to become as rich as Ruan Xueping?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Ruan Xueping's net worth of $7.24B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.57% compared to 11.75% for the S&P 500 benchmark.

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Ruan Xueping is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Ruan Xueping, Power Strip is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey